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Thursday, September 20, 1973
SIX-POINT INCREASE IN AUGUST G.C.P.I
The General Consumer Price Index for August was 176 -- a rise of
six points over that for the previous month.
The increase was mainly due to a rise of 13 points in the index
for foodstuffs. Increases of one point each were also recorded in the
indexes for durable goods, miscellaneous goods, and transport and vehicles.
Movements in the indexes for other sections of commodity and
service were insignificant.
Compared with the previous month, the average retail prices of
bread and cakes, pork, beef, poultry, and fresh vegetables have all gone
up. Many restaurants also put up their menu prices.
A spokesman for the Census and Statistics Department said the
sharp increase in the retail prices of fresh vegetables was mainly caused
by the rainy weather in August, which reduced the production of fresh
vegetables and hastened the deterioration of cut vegetables.
On the other hand, the average retail price of salt and fresh
water fish dropped because of adequate supplies.
He said the index for durable goods went up mainly because of
higher prices for furniture, hardware and cutlery, and travel and sports
goods. The index for miscellaneous goods also rose, mainly due to
increased prices for stationery, soft furnishings and jewellery.
The index for transport and vehicles also advanced, following
increased purchase prices and maintenance costs for motor vehicles.
The Modified Consumer Price Index for the month stood at 184,
seven points higher than that for the previous month.
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